Monday, August 10, 2009

Fortinet Files For IPO

Sunnyvale-based Fortinet has filed for an IPO, saying Monday morning in a filing with the SEC that it is looking to raise up to $100M in an offering underwritten by Morgan Stanley, JP Morgan, Deutsche Bank Securities, Robert W. Baird & Co., RBC Capital Markets, ThinkEquity, JMP Securities, and Signal Hill. The firm did not say which exchange it intends to list on. Fortinet is a developer of firewalls, VPNs, antispam, WAN acceleration, and other products. According to the filing, the firm earned $4.9M on revenues of $221.8M in fiscal 2008.